3. Suppose an individual is deciding between becoming a doctor or a surfer. To find the Internal Rate of Return (IRR) between these two options, one must find the r* that

satisfies T ➤ t=0 ID(t) (1 + r*)t 1 T t=0 Is(t) (1 + r*)t = 0/nwhere r* is the IRR. Suppose we do this calculation and find that r* = .10. Would this individual become a doctor instead of a surfer if their interest rate is equal to .05? What about if their interest rate is equal to .80?